Far Resources Ltd.

CNSX : FAT


Far Resources Ltd.

March 17, 2014 06:15 ET

Far Resources Reports on Site Visit to Winston Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2014) - Far Resources Ltd (CSE:FAT) ("Far Resources" or the "Company") is pleased to report the results of its recent site visit to the Winston Project in the Black Range Mining District of Southwestern New Mexico (the "Winston Property") in which the Company holds an option to earn up to 80% interest from Redline Minerals Inc. ("Redline"). The visit was conducted along with representatives of Redline.

The primary focus of the visit was to review historic data from the Little Granite Mine, including a 1984 drill report of Christopher deWitt. This work was carried out before the introduction of National Instrument 43-101, and therefore the results were not taken under the supervision of a "qualified person," and cannot be verified.

The site visit confirmed the presence of a well-developed steeply dipping epithermal quartz vein extending for at least 150 metres along strike which has been partially mined from underground and more recently explored via a decline. At surface, the vein ranges from approximately 35 to 60 cm in width. Historic reports of the mining and the 1984 drilling suggest that at depth the vein widens to between 1.8 and 3.0 metres in width. However, these reports cannot be verified and are presented as historical information only and should not be relied upon.

During the visit, the Company collected a total of three composite samples from the extensive quartz dump material on the Winston Property believed to have been excavated in the early 1980s. Two of these samples, representative of the main style of quartz, returned values of 170 g/t silver and 2.9 g/t gold and 170 g/t silver and 6.7 g/t gold. This material shows classic boiling textures and is thought to represent material from the upper part of a well-developed epithermal system. Additionally, a composite sample of grey-finer grained quartz material found on one of the dumps returned values of 25.2 g/t gold and 1439 g/t silver. This supports reports of higher grade "bonanza" shoots being present within the vein described in accounts of both the historic mining and drilling.

Far Resources is planning a diamond drill program on the little Granite Mine of a minimum 1000 metres to confirm the extent and grade of the mineralization indicated from historic sources, and to test for possible extensions of the mineralized vein both along strike and at depth.

All samples were assayed by fire assay methods at Acme Analytical Laboratories in Vancouver. The technical content of this news release has been reviewed and approved by Lindsay Bottomer, P.Geo., an independent director of Far Resources Ltd. and a Qualified Person under NI43-101.

About the Company

Far Resources Ltd. is an exploration company, publicly traded on the Canadian Securities Exchange (formerly the CNSX) under the symbol FAT, focused on the identification and development of high potential mineral opportunities in stable jurisdictions.

ON BEHALF OF THE BOARD OF DIRECTORS OF FAR RESOURCES LTD.

Keith C. Anderson, President

The Canadian National Stock Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release and the accompanying graphic links are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Contact Information

  • Far Resources Ltd.
    Keith Anderson
    President
    604.805.5035